honestly speaking, not because i own a td5, it's quite a good engine. Yes the head thingy is true to a certain extent, therefore if you operate your vehicle in relative cold climates, make sure you let the turbo and engine idle for a while like a minute before switching off, or simply install a turbo timer.
leaks? not that i know off. mine is MY 02 and still not leaking. the 01, 02, 04, 05 are very slightly different, in terms of the control from the ECU, if i'm not mistaken. 01 turbo is different and doesn't seem to have a sensor to it.
i own a d90 td5 so not sure abt the 110 fuel consumption. i can get 11km/litre even with city driving. ok, singapore is much city, so it's how gentle you are with your right foot. try not to kick the turbo in on gear 1 to 3 and you'll be fine. city driving as stated by land rover is abt 8.5 to 9km/litre.
it depends if you are confortable with a fully electronic controlled engine. it offers more power over the Tdi 300. but in some extream off road cases, a Tdi would be better especially if you want to make the vehicle 'swim'.